Hanging Together, Together Hung? Career Implications of Interpersonal Ties Between CEOs and Top Managers

BuR Business Research Journal, Vol. 6, No. 1, May 2013

25 Pages Posted: 18 May 2013

See all articles by Stefan Hilger

Stefan Hilger

EBS Universität für Wirtschaft und Recht - EBS Business School - Department of Strategy, Organization & Leadership

Ansgar Richter

University of Liverpool - Management School (ULMS)

Utz Schäffer

WHU Otto Beisheim School of Management

Date Written: May 6, 2013

Abstract

Is it good or bad for senior executives to have strong interpersonal ties to the CEO? We argue that a strong relationship with the CEO raises the likelihood that a top manager stays in office or makes an upward career move when the CEO leaves office voluntarily. At the same time, such interpersonal ties also reinforce the negative spillover effects of a dismissal of the CEO on the career prospects of the manager concerned. Our empirical analysis lends support to both arguments. We contribute to managerial succession research by underlining the ambivalence of interpersonal ties within top management teams.

Keywords: corporate governance, interpersonal ties, top executive careers, top executive turnover, top management teams

JEL Classification: D85, M51, G30

Suggested Citation

Hilger, Stefan and Richter, Ansgar and Schäffer, Utz, Hanging Together, Together Hung? Career Implications of Interpersonal Ties Between CEOs and Top Managers (May 6, 2013). BuR Business Research Journal, Vol. 6, No. 1, May 2013. Available at SSRN: https://ssrn.com/abstract=2266408

Stefan Hilger (Contact Author)

EBS Universität für Wirtschaft und Recht - EBS Business School - Department of Strategy, Organization & Leadership ( email )

Campus Wiesbaden
Soehnleinstr. 8 D
Wiesbaden, 65201
Germany

Ansgar Richter

University of Liverpool - Management School (ULMS) ( email )

Chatham Street
Liverpool, L69 7ZH
United Kingdom
44 [0]151 795 3713 (Phone)
44 [0]151 795 3001 (Fax)

Utz Schäffer

WHU Otto Beisheim School of Management ( email )

Burgplatz 2
Vallendar, D-56179
Germany

HOME PAGE: http://www.whu.edu/controlling

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